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Morning Roundup

joshua — Mon, 25 Oct 2010 00:29:31 +0000

Good morning everyone! Today is Monday, October 25th. Here’s a quick look back at Friday’s stories.

According to a new study conducted by the University of Maine Center, a relatively high percentage of elderly residents of Maine will require legal intervention at some point in their lives….

A survey by law school admissions consulting firm Veritas Prep showed 81% of law school applicants would still apply even if a significant number of graduates were unable to find jobs in their desired field…

The University of California, Irvine School of Law will provide scholarships of at least one-third of tuition to each member of its next class of students…

John Frankenheimer of Loeb & Loeb will be stepping down as the firm’s co-chair…

Lawyers for SAP AG, a German software company, requested that a federal judge issue a gag order during a forthcoming trial for an intellectual property theft case…

Sam Baxter of McKool Smith has been named by The Best Lawyers in America the 2011 Dallas Intellectual Property “Lawyer of the Year…

Whistle-blower website Wikileaks published classified documents related to the Iraqi war last Friday…

Law School Applicants Remain Bullish Despite Tight Job Market

joshua — Sun, 24 Oct 2010 16:36:20 +0000

A survey by law school admissions consulting firm Veritas Prep showed that 81 percent of law school applicants would still apply even if a significant number of graduates were unable to find jobs in their desired field. The results provide interesting insight at a time when law school rankings and reported career placement data are coming under increased scrutiny.

About 12 percent of respondents said they would postpone applying until placement rates improved and 4 percent said they would not apply to law school.

Other notable findings from the survey:

–44 percent of respondents said a reasonable desired base salary upon graduation to be $75,000-$100,000; 29 percent expect $100,000-$145,000; and 11 percent anticipate base salaries over $145,000.

–Location was the most important factor in selecting a law school among 69 percent of applicants. Career placement rates was important to 62 percent; and, perhaps most interestingly, 37 percent of respondents indicated that prestige and ranking was not important.

–Affordability was important to 54 percent of respondents and only 37 percent anticipate having law school debt of over $100,000.

The survey was conducted in conjunction with Law School Podcaster and Pre-Law Magazine. Research was conducted in June and July of this year.

Morning Roundup

joshua — Wed, 20 Oct 2010 13:47:58 +0000

Good morning everybody! Today is Wednesday, October 20th. Here’s a quick look back at yesterday’s stories.

According to the 2010 Law Department Survey from Hildebrandt Baker Robins, law departments reduced their total legal spending for the first time in 10 years in 2009…

Littler Mendelson, the nation’s largest employment and labor law firm representing management, will open an office in Caracas, Venezuela…

Brady Mickelsen, former vice president and general counsel of Oracle Corp., has joined White & Case as a partner…

International firm Baker Botts promoted 13 lawyers to its partnership…

Crowell & Moring announced the launch of its new top-level domain and domain name practice…

Survey: Legal Department Spending Took Rare Drop in ’09

joshua — Tue, 19 Oct 2010 22:56:15 +0000

Law departments reduced their total legal spending for the first time in 10 years in 2009, according to the 2010 Law Department Survey from Hildebrandt Baker Robins.

According to the survey, the main cause for the drop was the reduction in use of outside counsel. In fact, more than 60 percent of those surveyed trimmed their use of outside counsel; while at the same time, slightly increasing internal legal spending and staffing.

“The survey results confirm what we are seeing every day in our consulting practice with law departments of all sizes, sectors, industries and locations,” said Jonathan Bellis, who chairs Hildebrandt Baker Robbins’ Law Department Consulting practice. “As shown in our survey last year, law departments began to adopt a wide range of management practices to reduce and control internal and external legal costs. These efforts have continued, resulting in an overall decrease in total legal spending for the first time in the past 10 years of the survey.”

Hildebrandt Baker Robbins said reducing the use of outside counsel, which makes up nearly 60 percent of total legal spending, is likely to continue in the foreseeable future.

“We expect that efforts to reduce spending will continue, particularly with outside counsel spending, which makes up nearly 60 percent of total legal spending,” said Lauren Chung, survey editor.

Total legal spending in 2009 was down 1 percent in the U.S. and 2 percent worldwide from the previous year. The median total legal spending was $24 million in the U.S. and $33 million worldwide. Total legal spending as a percent of revenues worldwide was 0.4 percent.

According to Hildebrandt Baker Robbins, the 2010 survey achieved an all-time high in participation. The survey is designed to provide comprehensive data on legal spending, staffing, organization, compensation and management practices. The 2010 survey also reports information on management practices that law departments have adopted in response to the current economic environment.

Morning Roundup

joshua — Mon, 13 Sep 2010 13:57:53 +0000

Good morning everyone! Today is Monday, September 13th. Here’s a quick recap of Friday’s stories.

The ACLU will represent defense lawyers against U.S. Homeland Security…

According to a CT TyMetrix Inc. and The Corporate Executive Board survey, billing rates in Washington, D.C. are the second highest in the U.S….

The Quellos Group owners pled guilty to fraud and tax evasion…

The “Don’t Ask, Don’t Tell” policy was ruled unconstitutional in California’s 9th District…

Supreme Court Justice Elena Kagan disqualified herself from 10 more cases…

Law School admissions officers survey tells prospective students how to prepare…

Burleson Cooke added nine attorneys to its Pittsburgh office…

Billing Rates in Washington, D.C. Are Second Highest in the U.S.

ashley — Sun, 12 Sep 2010 00:24:35 +0000

Between 2007 and 2009, CT TyMetrix Inc. and The Corporate Executive Board gathered invoice data from over 3,500 law firms and 90,000 individual billers across the nation. Ultimately the invoices came to $4.1 billion.

According to the CT TyMetrix Inc. and The Corporate Executive Board survey on billing rates, Washington, D.C. law firm partners come in at a close second for the highest rates in the United States at $600 an hour for their time. New York City law firm partners charge the most in the United States at about $700 an hour. Washington, D.C. associates, however, bill at only $375 an hour, more than in San Fransisco, and just less than Las Angeles.

Over the three years of the CT TyMetrix Inc. and The Corporate Executive Board survey, it was also found that District of Columbia lawyers raised their rates on an average of 10.5%. In comparison, lawyers in Detroit only raised their rates 2%, the least in the country, and Dallas invoices showed the highest rate raising at 21.9%.

It seems lawyers nationwide do not necessarily have set rates, however. The survey found that 85% of lawyers change their rates for the same work depending on the client.

Morning Roundup

joshua — Fri, 09 Jul 2010 12:18:10 +0000

Good morning everyone! Today is Friday, July 9th. Here’s a quick look back at yesterday’s stories.

Clifford Chance was the highest grossing firm among UK firms…

Sonnenschein added a veteran Exxon Lawyer to its Energy Practice…

Ogletree opened a Portland office…

Gonzalez Saggio & Harlan added two partners to its IP team…

A survey of nearly 700 women law firm partners revealed an “intense dissatisfaction” with the compensation gap between men and women…

A former Texas representative joined Greenberg Traurig’s Austin office as an of counsel in the governmental affairs practice group…

A shareholder in Greenberg Traurig’s Tampa office, was appointed chairman of the Florida Bar Board of Legal Specialization and Education…

Morvillo Abramowitz was recognized by Chambers & Partners for the 7th consecutive year…

Survey Finds Deep Dissatisfaction Among Women Partners

joshua — Thu, 08 Jul 2010 17:02:30 +0000

A survey of nearly 700 women law firm partners revealed an “intense dissatisfaction” with the compensation gap between men and women.

The study, which was conducted by the Project for Attorney Retention (PAR) and the Minority Corporate Counsel Association (MCCA), found women partners make 22 percent less than men. That sort of disparity, the report concludes, opens the door to gender bias at firms.

“We knew there was a compensation gap, but we were surprised to find such intense dissatisfaction,” said Joan C. Williams, director of the Project for Attorney Retention.

Fewer than half the women equity partners and roughly one-third of women income- and minority-partners are satisfied with their compensation. An earlier study found that nearly three-quarters of men were.

Several unidentified woman partners are quoted as saying they make about 50 percent less than male partners at their firms.

One gave this account to illustrate the point:

“It is hard to say that gender is not a factor, when the median compensation for male partners is almost double that of female partners in my department, which is the largest department in a large international law firm. Once bonuses (which are confidential) are factored in, it is my informed belief that women partners in my practice group make less than half as much as the male partners.”

Roughly one-third of the women surveyed reported having been bullied, threatened or intimidated out of origination credit, a key factor in setting compensation. More than half the women reported being denied their fair share of origination credit.

Many survey respondents reported a lack of opportunities to participate in, or to benefit from their participation in, client pitches. Of the women surveyed, over 70% of minority income partners, 58% of minority equity partners, and slightly lower percentages of white partners, reported that they had participated in client pitches that yielded work for their firms — but that they were excluded when the time came to do the work.

Additionally, the survey found that women, who make up 16% of equity partners nationwide, are underrepresented or completely missing from their firms’ compensation committees.

Morning Roundup

joshua — Wed, 23 Jun 2010 13:03:52 +0000

Good morning everyone! Today is Wednesday, June 23rd. Here’s a quick look back at yesterday’s stories.

Baker & McKenzie formally parted ways with 11 of its 12 re-deferred associates…

Cadwalader earned top honors at the Global M&A Network Turnaround Atlas Awards in Chicago…

Sidley Austin’s Ronald Flagg was awarded the 2010 Vincent E. Reed Award…

Dewey And LeBouef’s D.C. office filed a friend of the court brief on behalf of the Mexican government…

Greenberg Traurig is counseling Valeant Pharmaceuticals in a merger deal with Biovail…

Ross E. Eichberg joined Nixon Peabody as a partner in the firm’s D.C. office…

Sidley Austin announced that Thomas W. Albrecht will assume the responsibilities of managing partner for the Asia Pacific region…

A wide-ranging Altman Weil survey offered perspective on a multitude of issues facing law firms today…

Blank Rome added three attorneys to its Government Relations group in Washington, D.C…

Survey Shows The Winds of Change in Legal Field

joshua — Tue, 22 Jun 2010 17:20:36 +0000

A wide-ranging Altman Weil survey released Tuesday offers some perspective on a multitude of issues currently facing law firms today. The survey of 218 firms, which was conducted in April and May of this year, touched on topics including non-hourly billing, lawyer staffing structures, workforce reduction and financial performance.

According to the survey, 94.5 percent of all law firms now offer alternative fee arrangements (AFA). But that’s not all. That number reaches 100 percent if counting only firms with 150 or more lawyers.

The majority of firms offering AFA’s said the arrangement came at the request of clients and were not a proactive strategy. Additionally, half of all firms say their fee arrangements are less profitable than hourly billing.

“We’re seeing some systemization, especially in larger firms, but there is a long way to go before alternative fee programs are business-focused and profit-driven rather than being seen as concessions to clients,” said Altman Weil principal Tom Clay said.

According to the survey, partnership in U.S. law firms is now harder to attain and will remain. Nearly 40 percent of firms made fewer partnership offers in 2009, and 50 percent indicated that they will or might do so in 2010.

Over a quarter of all law firms reported de-equitizing partners in 2009 and 37 percent will or might do so this year.

An additional 14 percent extended the partnership track last year and 20 percent will or might do so in 2010. The majority of firms expect each of these trends to be permanent going forward.

“This is a key element in the changing equation of law firm finance,” Clay explained. “Firms will maintain their profits per partner, in large part, by managing the number of partners they admit.”

The short term outlook for associates is even more daunting. Sixty four percent of firms reported shrinking their summer programs in 2009 and 54 percent anticipate doing the same in 2010. Just over half of all firms reduced or discontinued hiring first year associates last year and 38 percent will do the same this year.

To perhaps help fill that staffing hole, firms are increasingly using contract lawyers. The study reports 39 percent of firms used contract lawyers in ’09 and more than half, 53 percent, will or might do so in ’10.

Despite the difficult economy, slightly more firms had revenue gains than losses in 2009. Forty-six percent of firms reported increases in gross revenue; 44 percent reported decreases; and, 10 percent had no change from the prior year.

Revenue per lawyer was also up in 47 percent of law firms in 2009. Profits per equity partner (PPEP) increased in 56 percent of firms.

PPEP increases were driven by cuts in overhead costs in 69 percent of law firms which were primarily cuts of personnel. Forty two percent of firms cut costs by more than 4 percent and an additional 27 percent cut costs by 1 percent to 4 percent.

Law firms raised their standard hourly billing rates in 2010. The median increase was 3 percent. The survey notes that is closely aligned with the 2010 U.S. rate of inflation, currently reported at 2.2 percent.

In-House Counsel Look to Rein In Legal Spending

joshua — Wed, 02 Jun 2010 23:41:26 +0000

A study from Robert Half Legal reveals 25 percent of in-house counsel surveyed plan to decrease its work with outside firms in the next 12 months and 61 percent expect there to be no change.

The report, Delivering Maximum Value in a Cost Conscious Legal Area, notes reducing outside legal spending has become a top priority for in-house counsel with the most recent economic crisis. Only 10 percent of respondents expected to increase work given to outside firms.

As a result of this changing relationship, law firms have begun to rethink how it delivers services in order to put it better in line with what corporate clients are willing to spend, the report notes.

The poll found 22 percent of lawyers said the greatest challenge for their firms is dealing with increased competition for business and 19 percent cited meeting revenue goals. To help increase value to clients, according to the report, many firms have been replacing traditional operating methods, such as billable hour and lockstep compensation, with flexible fee arrangements and performance-based compensation.

The report was made through Robert Half Legal’s tenth annual Future Law Office project. Charles Volkert, executive director of Robert Half Legal, described the changes taking place.

“Among all the trends we have identified in our Future Law Office research, the increasing need for law offices to provide more value-added and cost-effective legal services is the most prominent,” Volkert said “Legal departments are being pressured to reduce their spending on outside counsel and boost efficiency. In response, law firms are revamping their legal services delivery processes to retain clients and improve profitability.”

Report: Varied Billing Rates Could Provide Bargaining Chip

joshua — Wed, 26 May 2010 23:32:35 +0000

A report set to be released this Fall could give general counsel an “enormous amount of bargaining power” in their billing rate negotiations with law firms, the Corporate Counsel reports.

The “Real Rate Report” by CT TyMetrix and The Corporate Executive Board shows firms’ charge a wide range of rates to different clients for nearly identical work. While that fact certainly comes as no surprise, as Corporate Counsel duly notes, the wide range of prices that were actually charged could give clients a “powerful” bargaining chip in billing rates.

“It will give general counsel an enormous amount of bargaining power,” Julie Peck, vice president of corporate strategy and market development at CT TyMetrixPeck, told Corporate Counsel in a report reprinted at Law.com.

“What that tells you is that there’s a significant amount of pricing elasticity in the market, and that negotiations can be very powerful.”

The report, based on an analysis of $4 billion in law firm billings, is slated for a September release. It surveys billable hours for 3,448 partners, associates and paralegals and finds that more than 75 percent charged different hourly rates for similar work. Corporate Counsel reports the largest rate differences of between $350 an hour to $1,000 a single person charges did open some eyes.

Other findings in the report show that while law firm partners charged corporate clients up to $1,590 an hour in 2009, the median partner rate of $340 an hour “is significantly lower than reported” in most other surveys.

Survey Shows Women Partners Are On The Increase

joshua — Wed, 21 Apr 2010 17:40:55 +0000

A survey released Monday by Project for Attorney Retention shows law firms have “made significant advances in retaining and promoting their women lawyers” during the last year. According to the survey, 34 percent of new partners this year have been female, which is up from 28 percent in 2009.

Of the 118 law firms taking part in the study, 23 had new partner classes that were at least 50 percent female. Topping that list were Sullivan and Cromwell, Munger Tolles and Weil Gotshal, each of which have had partner classes that’s 100 percent female.

On the flip side, 14 firms that have made at least two new partners this year have yet to promote a female.

Cynthia Thomas, director of research at PAR, commented on the survey’s findings in a press release.

“The increase in the number of women promoted to partner is heartening,” Thomas said. “But two factors indicate that celebration would be premature: first, the overall number of women partners in law firms remains low, at approximately 19 percent, and second, this survey made no distinction between equity and non-equity partnership, and other studies have shown that an even lower percentage of equity partners are female.”

The Project for Attorney Retention is a nonprofit organization that studies the advancement of women lawyers and work/life issues for all lawyers. It is headquartered at UC Hastings College of the Law.

National Law Journal Names Decade’s Most Influential Lawyers

joshua — Mon, 29 Mar 2010 15:55:31 +0000

The editors of The National Law Journal have identified 40 attorneys in 12 legal areas in its list of “The Decade’s Most Influential Lawyers” released Monday morning. David Brown, editor in chief of The National Law Journal, called the group the “lawyers who defined the decade.”

The group was selected from more than 100 nominations submitted by the legal community and represents big law firms, academia and government and advocacy groups. The practice areas included antitrust antitrust, appellate, bankruptcy, civil rights, corporate, energy & environmental; in house; intellectual property; labor & employment; legal education; litigation; and regulatory.

The attorneys will be honored at The National Law Journal’s annual dinner June 15 at Gotham Hall in New York City.

Here is the complete list of “The Decade’s Most Influential Lawyers”:

Antitrust:
Kevin Arquit, Simpson Thacher & Bartlett
William Baer, Arnold & Porter
Joe Sims, Jones Day

Appellate:
Thomas Goldstein, Akin Gump Strauss Hauer & Feld
Maureen Mahoney, Latham & Watkins
Carter Phillips, Sidley Austin

Bankruptcy:
Corinne Ball, Jones Day
John Butler, Skadden, Arps, Slate, Meagher & Flom
Jay Goffman, Skadden, Arps, Slate, Meagher & Flom
Harvey Miller, Weil Gotshal & Manges
James Sprayregen, Kirkland & Ellis

Civil Rights:
Ruth Harlow, Linklaters
Neal Katyal, Principal Deputy Solicitor General
John Payton, NAACP Legal Defense Fund
Paul Smith, Jenner & Block

Corporate:
H. Rodgin Cohen, Sullivan & Cromwell
Edward Herlihy, Wachtell, Lipton, Rosen & Katz
Jeffrey Rosen, Debevoise & Plimpton

Energy & Environmental:
C. Mark Baker, Fulbright & Jaworski
Edwin Feo, Milbank, Tweed, Hadley & McCloy
Robert Wyman, Latham & Watkins

In House:
Mark Chandler, Cisco Systems
Roderick Palmore, General Mills
Thomas Sager, E. I. du Pont de Nemours and Co.

Intellectual Property:
Morgan Chu, Irell & Manella
Donald Dunner, Finnegan, Henderson, Farabow, Garrett & Dunner
Russell Frackman, Mitchell Silberberg & Knupp

Labor and Employment:
Nancy Abell, Paul, Hastings, Janofsky & Walker
Paul Salvatore, Proskauer Rose
Joseph Sellers, Cohen Milstein Sellers & Toll

Legal Education:
Lawrence Lessig, Harvard Law School
David Van Zandt, Northwestern University School of Law
Elizabeth Warren, Harvard Law School

Litigation:
Patrick Fitzgerald, U.S. Attorney’s Office, Northern District of Illinois
Mark Lanier, Lanier Law Firm
Brendan Sullivan, Williams & Connolly
Ted Wells Jr., Paul, Weiss, Rifkind, Wharton & Garrison

Regulatory:
Charlene Barshefsky, Wilmer Cutler Pickering Hale and Dorr
Giovanni Prezioso, Cleary Gottlieb Steen & Hamilton
Richard Wiley, Wiley Rein

Study: West Virginia Has Nation’s Worse Lawsuit Climate

joshua — Mon, 22 Mar 2010 18:12:22 +0000

A study conducted by the U.S. Chamber Institute for Legal Reform rates West Virginia as having the nation’s worst lawsuit climate in the United States. It is followed in the bottom five by Louisiana (49^th), Mississippi (48^th), Alabama (47^th) and California (46^th).

The Lawsuit Climate 2010: Ranking the States survey measures how a state’s legal climate affects businesses. Survey respondents were made up of general counsels and senior attorneys or executives in companies with annual revenues of at least $100 million.

According to the report, West Virginia was rated last in each of ten elements used to determine a state’s overall position.

“As West Virginia’s leaders work to recover from the current economic downturn, they need to pursue policies that help create jobs by removing the burdens of abusive litigation against local businesses. The bottom line is that West Virginia needs more jobs, not more lawsuits,” said Lisa Rickard, president of the U.S. Chamber Institute for Legal Reform.

Among the reasons cited for West Virginia’s lowly ranking is the inability of litigants in the state to appeal adverse court decisions. The report notes that the lack of an automatic appeal in the state was specifically cited by Chesapeake Energy for its 2009 decision to cancel plans to build a $35 million regional headquarters in Charleston.

Two-thirds, or 67 percent of the 1,482 corporate lawyers contacted for the survey, said a state’s lawsuit environment is likely to impact important business decisions at their company, such as where to locate or expand. That number is up 10 percent from three years ago.

The study does give West Virginia credit for recent changes to its system, including a measure that authorizes the state supreme court to establish a business court system in more populous areas of the state.

The Lawsuit Climate 2010: Ranking the States survey was conducted by Harris Interactive by telephone and online from October 2009 to January 2010.

Morning Roundup

sara — Mon, 01 Mar 2010 12:54:35 +0000

Good morning everyone! Today is Monday, March 1, and here’s a quick look back at Friday’s news…

Profits and revenue decline at Debevoise & Plimpton…

Ogletree Deakins open a new office in Orange County, California…

Donchess & Notinger claim in a court filing that a bankruptcy case is creating a financial hardship for the firm…

Seyfarth Shaw releases details about it’s merit based plan…

Revenue and profits increase at Cahill…

10 lawyers leave McDonough Holland & Allen for DLA Piper…

Revenue decreases at DLA Piper…

U.S. firms scale back London recruitment according to a new survey…

Former University of Maryland law dean Karen Rothenberg is asked to refund $60,000 to the university…

Laurence Tribe accepts a position at the Department of Justice…

Freshfields unfreezes associate lockstep…

Obama nominates 4 U.S. Attorneys…

The Citizens United decision could lead to a constitutional amendment…

Congress considers a U.S. patent overhaul…

U.S. Firms Scale Back London Recruitment According to New Survey

sara — Fri, 26 Feb 2010 15:54:35 +0000

A new survey conducted by “Legal Week” finds that lateral partner hiring by U.S. firms in London fell to its lowest level last year since 2004. Hiring trends at 37 of the biggest U.S. and trans-Atlantic firms show that just 59 lateral partner moves were made in 2009. Many firms were reluctant to expand with a continuing global recession. This figure is a decline of 2008 recruitment levels when there were 77 lateral partner hires, the highest since 2005 (when there were 80).

Greenberg Traurig was responsible for a quarter of all partner hires by U.S. Firms in London last year. Minus Greenberg Traurig’s 15 partner appointments there were just 44 new hires across all remaining firms. The most active firms after Greenberg were Paul Hastings Janofsky & Walker, which hired 8 partners, including a 7 partner team from Cadwalader Wickersham & Taft . Other firms making lateral moves included Mayer Brown and Reed Smith, making five each.

Survey: Legal Industry May Be ‘Stabilizing’

Erik Even — Thu, 20 Aug 2009 16:14:05 +0000

According to the Hildebrandt International Peer Monitor Economic Index, the economic health of the legal industry has stopped declining for the first time since Q2 2008.

The survey follows demand for legal services, attorney productivity, billing rates and expenses at Biglaw and midsize firms.

Hildebrandt says the legal industry may be “stabilizing,” as the result of cost-cutting changes made by law firm management.

Hildebrandt, part of Thomson Reuters, does merger consulting, with more than 50 consultants located in the United States and in London.

Survey: McKee Nelson Best for Handling Layoffs

Erik Even — Thu, 30 Jul 2009 16:59:01 +0000

Out of 92 firms surveyed, McKee Nelson did the best job of handling layoffs this year.

According to The American Lawyer, the top five firms for appropriately and compassionately handling layoffs were McKee, Nutter McClennen, Michael Best, Stradley Ronon, and Patton Boggs.

Associates at the firms surveys rated their employer for how well they handled the layoffs, and how they communicated the news.

Those deemed the worst were Winston & Strawn, White & Case, Dewey & LeBoeuf, Shearman & Sterling, and Sutherland Asbill.

Survey: Growing Demand for Multilingual Attorneys

Erik Even — Wed, 29 Jul 2009 21:04:18 +0000

Lawyers who speak more than one language are at an advantage in the job search, according to a survey by Robert Half Legal.

Thirty-six percent of the 300 attorneys polled say they are seeing an increased need for counsel who are multilingual. Spanish and Chinese are the languages in greatest demand.

The respondents are lawyers at the largest law firms and corporations in the United States and Canada. All the respondents have at least three years of experience in the legal field.

Study: Dublin Solicitors Suffering Wage Cuts, Layoffs

Erik Even — Fri, 03 Jul 2009 16:26:45 +0000

A survey by the Dublin Solicitors Bar Association reports that 40% of new and low-level solicitors in the city have taken pay cuts averaging 15%; and 40% of incoming new solicitors have been laid off or lost their job offer.

Furthermore, 40% (there’s that number again) are working without a contract; and 30% are considering changing careers.

The study questioned solicitors with less than five years experience.

Established in 1938, the Dublin Solicitors Bar Association is the largest bar association in Ireland.

Berwin Leighton Top UK Firm for Lawyer Satisfaction [Correction]

Erik Even — Fri, 19 Jun 2009 16:10:04 +0000

Berwin Leighton Paisner, CMS Cameron McKenna and Norton Rose are the top three UK firms for lawyer satisfaction, according to a survey by Legal Week of 4,000 solicitors below partner level.

The Legal Week 2009 Employee Satisfaction Survey says the three firms have the top lawyer satisfaction amongst the 25 largest UK law firms. The top five is rounded out by Allen & Overy and Bird & Bird.

The rankings are based on lawyers’ judgments of criteria such as firm prestige, work/life balance, being valued as an employee, quality of work, client interaction, salary & bonuses, partnership prospects and billable hours expectations.

The bottom five include Eversheds and DLA Piper.

UPDATE

This post originally listed the top five in the wrong order. JDJournal regrets the error.

UK Lawyers to Lose 10,000 Jobs by 2011

Erik Even — Mon, 15 Jun 2009 17:41:47 +0000

London’s The Times newspaper predicts that up to 10,000 UK lawyers could lose their jobs over the next two years, based on interviews with recruiters, consultants and senior law firm partners.

That’s well over 10% of the island nation’s 83,000 privately employed solicitors.

The United Kingdom’s legal sector (including non-lawyers) lost 16,700 jobs in 2008, to 279,800. The 2009 losses are expected to be much worse.

Vacancies for associate solicitors down by 95% this year. One recruitment agency received 700 applications for three entry-level vacancies.

Most Brit Law Students Still Plan Legal Careers

Erik Even — Mon, 13 Apr 2009 21:44:54 +0000

According to a study by Legal Week Intelligence, the percentage of UK law students planning a non-legal career has fallen over the last two years.

The global economic meltdown has students looking in the dwindling legal field, rather than in the disastrously impacted finance and banking sector.

The number of British law students planning to eschew the legal profession when they leave law school has fallen from 18% in 2007 to 13% in 2009.

Only 17 percent of the 2,500-plus students surveyed are considering working in investment banking, down from 25% two years ago.

Fifty percent of undergraduates want to be solicitors; 16% want to be barristers; and 22% would be happy either way.

Of those not intending to be lawyers, civil service and academia are the most popular options.

Study: Biglaw Firms Must Do More for Diversity

Erik Even — Sat, 04 Apr 2009 17:48:41 +0000

A new study by the Minority Corporate Council Association says biglaw firms must do more to ensure that minority, female and LGBT attorneys have the same career opportunities as their white male counterparts.

The study, entitled “Sustaining Pathways To Diversity: The Next Steps in Understanding and Increasing Diversity & Inclusion in Large Law Firms,” is based on questionnaires completed by more than 4,000 attorneys at 124 different large firms.

Some findings:

The study found that fitting in with the majority culture at a firm is actually a better indicator of long-term success than top-tier law school credentials.
When it comes to professional development, landing plum assignments, and receiving satisfactory coaching and feedback, whites enjoy a significant advantage over all minorities.
There is a feeling among white men that minorities hired at firms are less qualified, even if they graduated from top law schools, because they were admitted through affirmative action programs.
The women and minority lawyers surveyed were less likely than their white male counterparts to feel that they are treated as equals by their peers. Also, 75% of white attorneys perceived that they had access to the training and development they needed, compared to 59% of minorities.
But the majority of minorities and women surveyed said they don’t think they are victims of race or gender discrimination.

35% of Canadian In-House Legal Departments Have Frozen Hiring

Erik Even — Thu, 02 Apr 2009 20:18:18 +0000

According to the 2009 Barometer survey of Canadian in-house counsel, 66% of in-house lawyers feel the economic situation has affected their legal department; 59% say they are conducting more work internally compared with six months ago; 75% of in-house counsel surveyed say that their legal departments have taken steps to rein in costs.

The survey reports that 38% of legal departments are decreasing the amount of work sent to outside firms.

The survey is conducted by Ipsos Reid for the law firm Davies Ward Phillips & Vineberg and the Canadian Corporate Counsel Association.

More than one-third have implemented a hiring freeze, and 22% have cut their legal department budgets.

In-house lawyers report they still like their jobs, with 77% saying they would recommend becoming an in-house lawyer, and 80% recommending that a lawyer first work at a law firm before going corporate.

Study: 25% of Firms Expect to Hire in 2009

Erik Even — Fri, 27 Mar 2009 17:27:53 +0000

According to Robert Half Legal, one quarter of lawyers surveyed believe their firm will hire in the next 12 months, most likely in bankruptcy and litigation.

The survey questioned 300 attorneys at law firms and corporations in the United States and Canada.

About 65% said that staffing levels would not change, and 10% said their organizations would reduce their staff.

Then again, in last year’s survey 45% of lawyers believed there would be an increase in hiring in 2008, and half said staffing levels would remain the same. Only a prescient 3% anticipated a decrease.

So, I’ve got some nice big grains of kosher salt here, if anyone’s interested.

Massachusetts Lawyers Expect to Make Less This Year

Erik Even — Wed, 11 Feb 2009 16:52:12 +0000

Nearly 79% of Massachusetts Bar Association members who responded to an online survey believe the economic downturn will affect the entire legal profession, and about 49% expect to earn less this year than last year.

The results are based on a 13-question survey e-mailed to members in December.

About 51% expect the downturn to last until 2010, while roughly 18% anticipate the tough times to extend into 2011.

The bar association reported that most survey respondents have been practicing law for more than two decades, and earn between $100,000 and $200,000. Just over one-half of the respondents work for a firm with fewer than 25 lawyers, while about 30% are solo practitioners.

Two Thirds of Law Firms Expect Lower 2009 Revenues; 51% to Terminate Staff

Erik Even — Tue, 23 Dec 2008 19:13:50 +0000

Two-thirds of all US law firms expect lower 2009 revenues, although the economic harm to date has mostly hurt large firms, according to a new Altman Weil survey.

Large law firms, those with more than 250 lawyers, in the major legal markets of New York, Chicago, Washington, San Francisco and Los Angeles have felt the most impact on revenue.

In those five major legal markets, large law firms’ accounts receivables collections within 90 days of billing dropped by an average of 4.2% in the third quarter of 2008, compared tolast year.

Nationwide, large law firms’ accounts receivables collections dropped by an average of 2.9% in the third quarter of 2008.

“Large and major market firms have larger clients who tend to manage money better and are probably hoarding cash if they can,” said Altman Weil’s James D. Cotterman. “Legal is not as important as the electric bill or key raw material suppliers.”

About 66% of law firms expect lower revenue next year, compared with the 26% that anticipate little or no change and 8% that look forward to higher revenue.

Half of all firms plan to make minimal or very selective hikes in billing rates next year; 14.3% plan to tie billing increases to the Consumer Price Index; and 4% plan to keep the same billing rates.

Firms responding to the survey also cited five top ways they planned to conserve cash in the near term, including: cutting operating expenses (81%); deferring capital expenditures (76%); terminating staff (51%); terminating associates (38%); and increasing partner capital (38%).

Altman Weil collected responses from 85 firms.